Bank Name
Interest Rate
Processing Fee
Loan Amount/Tenure
SBI Home Loan
8.60% p.a. – 9.65% p.a.(Floating Rate)
0.35% onwards (min. Rs.2,000; max. Rs.10,000),currently NIL during the campaign period(Processing Fee)
-Loan Amount At the discretion of the bank1-30 YearsTenure Range
Enquire
HDFC Home Loans
Special Home Loan Rates for Salaried & Self Employed: 8.50% to 9.15%* p.a., Standard Home Loan Rates for Salaried & Self Employed: 8.75% to 9.40%* p.a.
0.5% or Rs.3,000, whichever is higher
(Processing Fee)
Contact the bank for detailsLoan Amount1-30 YearsTenure Range
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Union Bank Home Loan
8.40% p.a. to 10.75% (Floating Rate) for salaried and non-salaried individuals, 8.35% for government or PSU employees 11.40% to 12.65% (fixed rate).
0.50% or ₹15,000 Maximum(Processing Fee)
₹ Contact the bank for detailsLoan Amount1-30 YearsTenure Range
Enquire
PNB Housing Home Loan
8.50% p.a. to 11.25% p.a.(Floating Rate) for up to Rs.35 lakh 8.50% p.a. to 11.45% p.a. for above Rs.35 lakh
Up to 0.5% of the loan amount
(min 10,000 in both cases, excluding taxes) (Processing Fee)
₹ Up to 90% of the cost of the property Loan Amount1-30 YearsTenure Range
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LIC HFL Home Loan
8.40% p.a.(Floating Rate) for salaried individuals for up to Rs.2 crore 8.50% p.a. for non-salaried individuals for up to Rs.2 crore
For CIBIL >= 725, Rs.50,000/- + GST and For CIBIL < 725, Rs.60,000/- + GST
For CIBIL >= 725, 0.25% of loan amount subject to maximum of Rs.20,000/- +GST
and For CIBIL < 725, 0.30% of loan amount subject to maximum of Rs.24,000/- +GST(Processing Fee)
₹ 10L -₹ 3CrsLoan Amount5-up to 30 YearsTenure Range
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Axis Bank Home Loan
8.70% p.a. for salaried and 9.10% p.a. for self-employed(Fixed /Floating Rates)
Up to 1% (Processing Fee)
₹ 10L -₹ 5CrsLoan Amount1-30 YearsTenure Range
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Aditya Birla Capital Home Loan
8.80% p.a. to 14.00% p.a. (Floating Rate) for salaried individuals 9.10% p.a. to 14.75% p.a. for non-salaried individuals (Floating Rate)
Up to 1.00% of the loan amount + applicable tax (Processing Fee)
Contact the bank for detailsLoan Amount1-30 YearsTenure Range
Enquire
Indiabulls Home Loan
9.30% p.a onwards (Floating Rates)
0.50% onwards (Processing Fee)
₹ 10L onwardsLoan Amount1-30 YearsTenure Range
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Karnataka Bank Home Loan
8.58% - 11.43% p.a.(Floating Rate)
Contact the bank for details (Processing Fee)
Up to ₹ 5CrsLoan Amount1-30 YearsTenure Range
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IDFC Home Loan
8.75% p.a. onwards for salaried and 8.85% p.a. for self-employed (Floating Rate)
Up to 3% (Processing Fee)
Rs.1 lakh – Rs.5 croreLoan Amount5-30 YearsTenure Range
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Bank Of Baroda Home Loan
8.40% p.a to 10.60% p.a.(Floating Rate) for both salaried and non-salaried individuals
Contact the bank for information
(Processing Fee)
₹ 1L -₹ Up to 10 CroreLoan AmountUp to 30 YearsTenure Range
Enquire
Canara Bank Home Loan
8.40% p.a. to 11.20% p.a. (Floating Rate) for women borrowers 8.45% p.a. to 11.25% p.a. for other borrowers
0.50% (min. Rs.1,500; max. Rs.10,000) (Processing Fee)
Rs.1 lakh – Rs.3 crore -Loan Amount30 YearsTenure Range
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Kotak Mahindra Bank Home Loan
8.70% p.a. and 8.75% p.a. onwards for salaried and non-salaried individuals, respectively
0.5% of the loan amount(Processing Fee)
-Loan Amount 10 Lakh to 10 Crore1-20 YearsTenure Range
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DBS Home Loan
Up to 18.00% p.a. as of 19 December 2023
₹ 10000+ taxes (Processing Fee)
Up to ₹ 5CrsLoan Amount1 - 25 YearsTenure Range
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Sundaram Home Finance Limited Home Loan
10.00% p.a. onwards for salaried individuals and 10.50% for non-salaried individuals
Contact the bank for details (Processing Fee)
₹ 1L -₹ 4CrsLoan Amount1-25 YearsTenure Range
Bank of Maharashtra Home Loan
8.35% p.a. to 8.60% p.a.
0.25%
(One time fee)(Processing Fee)
- Loan Amount1 - 30 YearsTenure Range
Enquire
Note:
*All loans are at the sole discretion of HDFC Home Loans.Terms and conditions apply.
Housing Loan Schemes & Offers
- Kotak Mahindra Bank - Best for Low-Interest Rate
- Low-interest rates start from 8.70% onwards and 8.75% onwards p.a. for salaried and self-employed individuals, respectively.
- Processing fee of up to 0.50% of the loan amount
- Loan tenure of up to 20 years
- Zero prepayment charges
- Balance transfer with top-up loan available
- Canara Bank Housing Loan - Best Interest Rate for Women
- Low-interest rates for women starting from 8.40% p.a. to 11.20% p.a. (Floating Rate).
- Maximum repayment tenure of 30 years or up to 70 years.
- Processing fee of up to 0.50% of the loan amount
- It Can be used to purchase or construct a house/flat
- Zero prepayment charges
- Axis Bank Home Loan - Best Interest Rate for Salaried Employees
- Low-interest rates starting from 8.70% p.a.
- Loan amounts of up to Rs.5 crore
- Maximum repayment tenure of 30 years
- Processing fee of up to 1% of the loan amount
- No prepayment/foreclosure charges
- HDFC Reach Home Loans for self-employed professionals
- Attractive interest rates start from 8.50% to 9.15% p.a. and 8.75% to 9.40% p.a.
- Flexible repayment tenure of up to 30 years
- Processing fee of 2% of the loan amount
- Minimal documentation with minimum income of Rs.2 lakh p.a.
- Add a woman co-owner for lower interest rates
- SBI Privilege Home Loan for Government Employees
- Low interest rates starting from 8.60% to 9.65% p.a.
- Zero processing fee
- Loan tenure of up to 30 years
- Reduced interest rates for women borrowers
- Interest concession when checkoff is provided
- PNB HFL Plot Loan - Best Home Loan for Plot and Construction
- Attractive rates starting from 9.50% p.a.
- Flexible loan tenure of up to 30 years
- Processing fee of up to 0.5% of the loan amount
- Loan enhancement in case of escalating costs
- Quick loan application and approval process
- SBI Realty Home Loan - Best Home Loan for Land Purchase
- Low-interest rates starting from 8.60% p.a.
- The Maximum tenure of ten years
- Processing fee of up to 0.35% of the loan amount
- Maximum loan amount of up to Rs.15 crore
- Interest rate concession for women borrowers
- SBI Smart Home Top-Up Loan - Best Top Up home loan
- Interest rates starting from 9.10% p.a. to 10.15% p.a.
- Processing fee of Rs.2,000 + GST (Minimum) to Rs.10,000 + GST (Maximum)
- Overdraft facility for loans above Rs.20 lakh
- Loan tenure of up to 30 years
- No prepayment penalty
- Union Awas Home Loan - Best for Low Credit Score
- Interest starts from 10.75% p.a. for credit scores below 600 for loans of up to Rs.30 lakh
- Moratorium period of up to 3 years for construction or purchase of a home
- Loan tenure of up to 30 years
- For agriculturists, quarterly/half-yearly/annual repayments instead of EMI can be availed
- Open to permanent employees of educational institutions and agriculturists with a yearly income of up to Rs.48,000 p.a.
Home Loan Eligibility
The following is the list of eligibility criteria
| Eligibility Criteria | Requirement |
|---|---|
| Age | Minimum Age: 18 years and Maximum Age: 70 years |
| Resident Type | The applicant must be (anyone):
|
| Employment | The applicant can be (anyone):
|
| Net Annual Income | At least Rs.5-6 lakh depending on the type of employment |
| Residence | The applicant must have (anyone):
|
| Credit score | A good credit score of at least 750 or more obtained from a recognised credit bureau |
Documents Required for Home Loan
The following is the list of eligibility criteria
| Identity Proof (any one) | Residence Proof (any one) | Other Documents |
|---|---|---|
| Driving License | Copy of Electricity Bill/Water Bill/Telephone Bill | Employer Identity Card |
| PAN | Copy of valid Passport/Aadhaar Card/Driving License | Duly filled loan application form affixed with 3 passport size photographs |
| Voter ID | Loan account statement for the previous 12 months if the applicant has any other ongoing loan from other banks/financial institutions | |
| Valid Passport | Bank account statements for all the bank accounts owned by the applicant for the last six months |
Income Proof Documents
The following is the list of eligibility criteria
| For Self-employed Applicant/Co-applicant | For Salaried Applicant/Co-applicant |
|---|---|
| Income Tax Returns for the last 3 years | Salary Slips for the last three months |
| Certificate of Qualification (for Doctors/CA and other professionals) | Copy of Form 16 or Income Tax Returns for the last two years |
| Balance Sheet audited by a certified CA and Profit and Loss account for the previous 3 years | |
| Business License Details | |
| Business address proof | |
| TDS Certificate |
Documents Required from all Non-Resident Indians (NRIs) Applicants
The following is the list of eligibility criteria
| Identity Proof (any one) | Residence Proof (any one) | Other Documents |
|---|---|---|
| PAN | Telephone bill | Attested copy of the applicant’s/co-applicants’/guarantor’s valid passport and visa |
| Valid Passport | Electricity bill | Proof of residence indicating the applicant’s current overseas address |
| Driver’s License | Water bill | Employer Identity Card |
| Voter ID Card | Piped Gas bill | If the applicant is employed in the Merchant Navy, the applicant is required to submit a copy of Continuous Discharge Certificate (CDC) |
| Valid Passport | PIO Card issued by the Government of India in case the applicant/co-applicant is a Person of Indian Origin (PIO). | |
| Driving License | The completed loan application form duly filled with three passport size photographs of the applicant and co-applicants. | |
| Aadhaar Card | The attestation of the documents can be done by: 1. Indian Embassy/Consulate 2. Overseas Notary Public 3. FOs/Representative Offices 4. Officials of Branch/Sourcing Units based in India |
Income Proof Documents for NRI
The following is the list of eligibility criteria
| For Self-employed Applicant/Co-applicant | For Salaried Applicant/Co-applicant |
|---|---|
| Proof of income if the applicant/co-applicant is a self-employed professional/businessman. | Valid work permit |
| Business address proof | Employment contract (translated in English) attested by the employer/consulate/embassy/Indian foreign office if the contract is in another language. |
| Balance Sheet and Profit and Loss accounts audited by a certified CA for the last 2 years | Salary slips for the last 3 months |
| Individual Tax Return for the last 2 years – Not applicable to NRIs/PIOs located in the Middle East countries. | Bank statements indicating salary credit for the last 6 months |
| Bank statement of the individual’s as well as the business/company’s overseas account for the last 6 months. | Copy of the Identity Card issued by the current employer along with the latest salary slip (original). |
| - | Copy of the individual Tax Return for the last assessment year. - Not applicable to employees in the Merchant Navy and NRIs/PIOs located in the Middle East countries. |
Property Papers:
- Agreement of Sale (anyone):
- Registered Agreement of Sale
- Stamped Agreement of Sale
- Allotment Letter
- Occupancy Certificate in case the property is a ready-to-move-in property
- Copy (blueprint) of the Approved Plan and Registered Development agreement of the builder
- Conveyance Deed in case of a new property
- Bank account statements indicating all payments made to the seller or builder
Home Loan Fees & Charges
Depending on the type of loan you are applying for, the following charges may be levied:
- Processing fees: This is a one-time non-refundable fee to be paid to the home loan provider after the loan application has been approved. The processing charge varies depending on the bank and the loan scheme you are applying for.
- Prepayment charges: The Prepayment penalty is the fee you will have to pay the lender if you plan on repaying your home loan before the completion of the loan tenure.
- Conversion fees: Some banks also charge a conversion fee when you switch to a different loan scheme to lower the interest rate associated with your current scheme.
- Cheque dishonour charges: The fee is levied when the loan provider finds that a cheque issued by the borrower is dishonoured due to insufficient funds in the borrower’s account.
- Fees on account of external opinion: In some cases, you should consult an external expert, such as a lawyer or a valuator, for their opinion on the loan. This fee should be paid directly to the concerned person, not the lending institution. This fee should be paid directly to the concerned person, not the lending institution.
- Home insurance: The premium should be paid directly to the concerned company during the term to ensure the insurance policy runs during the home loan tenure.
- Default charges: Loan providers also penalise delayed repayments, i.e. if you fail to make your Equated Monthly Instalments (EMIs) or Pre-EMIs on time. The defaulting charges vary from one bank to another.
- Incidental charges: This charge covers the expenses incurred by the bank to recover dues from a borrower who has failed to make his monthly instalments on time.
- Statutory/regulatory charges: The fee includes all costs associated with the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), Memorandum of Entry and Deposit, and stamp duty. You can visit www.cersai.org.in to learn more about these charges.
- Photocopy of documents: The fee is payable to the bank if you require a photocopy of your home loan documents for personal needs.
- Change in loan term: Some banks also charge a nominal fee if you wish to change the tenure associated with your loan.
Track Your Home Loan Application Status
BankBazaar helps you track your loan application easily. Visit application status, enter your Application ID and mobile number, and get the status.
Before you Apply for a Home Loan
Check Home Loan EMI Calculator
Our EMI calculator helps you calculate the amount you must pay the bank monthly. Input your loan amount, tenure, interest rate, and processing fee to get your EMI and loan amortisation details.
Current Home Loan Interest Rates
Interest rates are the charges a lender will levy on you for borrowing a certain amount over a specific period. They directly impact your EMI. These rates will differ from one lender to another.
Check Home Loan Processing Fees
Banks charge this fee for processing your loan application. It is non-refundable and is charged before disbursal. It’s calculated as a percentage of the loan or a fixed amount..
Check Home Loan Eligibility
Each bank has specific parameters based on which they approve a property loan for you. These include age, income, employment status, where you work, what builder you’re buying a house from, etc.
Check Documents Required for Home Loan
For the housing loan to be sanctioned, you must provide your identity and address proof, income documents such as ITR and payslips, bank statements, and proof of house purchase..
Pradhan Mantri Awas Yojana (PMAY)
Pradhan Mantri Awas Yojana (PMAY) is a Government of India initiative that provides an interest subsidy of 6.5% on housing loans availed by the beneficiaries.
Types of Home Loans in India
Banks in India provide different types of housing finance options for various purposes. Here’s a list of the prominent types of housing loans in India based on a study of products offered by some of the top banks:
- New Home Loans - New Home Loans are offered to eligible customers looking to purchase a house or property for the first time.
- Pre-approved Home Loan - Banks offer Pre-approved home loans to eligible borrowers once their creditworthiness, income and financial position are considered considerable for an in-principal approval of the loan.
- Home Purchase Loans - Home purchase loans are given explicitly to borrowers looking to purchase a house or flat.
- Home Loan for Construction - A home loan is offered to customers looking to construct their own house on existing land.
- Plot Loans - Plot loans are offered to customers looking to purchase a piece of land or plot to construct a house.
- Home Loan Top Up - Home Loan Top Up is a facility offered by most banks and NBFCs that allows existing customers to borrow a certain amount above and over the existing home loan.
- Home Extension/Renovation Loans - Home loans for the extension or renovation of homes are offered to borrowers who wish to renovate/extend their existing house/property.
- Balance Transfer Home Loan - Individuals can use the balance transfer option to transfer their home loan from one bank to another. Most people choose this option to avail themselves of better interest rates.
- Home Conversion Loan - Suitable for those looking to purchase and move to another property when they have already bought a house with a home loan.
- Home Improvement Loan - These loans are sanctioned to those looking to repair/improve/renovate an already existing property.
- Home Loans for NRIs - These home loans cater to the housing needs of NRIs in the country. They also include PIOs and OCIs.
Home Loan Rejection
| Do's | Don't |
|---|---|
| Ensure that you have researched the loan you want to apply for | Do not blindly sign the documents before you read every term and condition on it |
| Read the fine print before taking the loan | Do not forget to compare interest rates offered by different loan providers |
| Look out for any charges applicable on prepayments and foreclosure | Do not default on your monthly payments |
| Make sure you pay the equated monthly instalments (EMIs) on time | Do not apply for a loan just for the sake of it |
| Ensure that you have a good credit score before you apply | Do not sign the home loan agreement before reading the clauses |
| Apply for a loan amount you are eligible for | Do not request for a change in tenure unless you have considered all the aspects |
| Submit all the necessary documents | Do not submit an incomplete or mismatched loan application |
| Ensure that you have stable employment | Do not have too many ongoing loans |
What steps to take when your home loan application faces rejection?
You can always re-apply for a home loan if your first loan application was rejected by the lender. However, there are a few aspects you must consider before doing so.
Credit score: Since housing loans are generally long-term retail loans, lenders look into the applicant’s repayment capacity before approving or rejecting a loan application. Your credit score plays a major role in deciding your repayment capacity against a loan.
If you have a poor score on your credit report, chances of your loan application being rejected are high. The unsatisfactory credit score gauges your creditworthiness which banks and financial institutions consider before processing your loan application. Hence, it is advised to go through your credit score and credit report before you apply for a loan.
In case you have a poor credit score, consider improving your score by making your debt repayments on time before you reapply for a housing loan again. If you do not know what your current score is, you can get your credit score along with the credit report on BankBazaar.
Loan Amount: Since purchasing/constructing a home is a one-time investment, we often tend to overlook the financial costs involved in it. Banks and financial institutions fix the maximum loan amount you are eligible for by taking your present monthly income. There is a high chance your application was rejected because of the loan amount you have applied for.
If the loan amount applied for exceeds your eligible loan amount, the lender can decide to reject your application. In such cases, you can consider increasing the down payment on your home loan to bring down the loan amount.
Other Ongoing Loans: Banks can also choose to reject your home loan application if you have too many other ongoing loans. Since home loan lenders see to it that not more than 50% of your monthly income is being contributed to your loan repayments, any other ongoing long-term loans can result in your application being rejected.
Having too many ongoing loans will not only impact your personal finances but also your repayment capacity. Hence, it is advised to clear the ongoing loans, if any, before you apply for a housing loan.
Co-applicant: There can be instances where applications are rejected due to low income. In such cases, you can consider adding a co-applicant such as a member of your immediate family. This will increase the maximum amount you are eligible for as the income and creditworthiness of the co-applicant will also be taken into account while deciding your eligibility.
Employment: In some cases, the employment of the applicant can act as the deciding factor on whether the loan application is being approved or rejected by the lender. Your application can be rejected if the lender learns that you have been switching between jobs frequently.
Unstable employment can sometimes prove to have a negative impact on your loan application. On the other hand, stable employment with a recognised institution on your application can have a positive impact.
In case your housing loan application was rejected, and you have only been working with the current employer for a short period of time. You can consider giving it some more time before re-applying for another one.
Documentation: Housing loans include a lot of documentation such as identity proof, residential proof, bank account statements, income tax returns, income proofs, property papers, documents approved by concerned authorities, etc. Your loan lender can reject your loan application even if one of the required documents are not submitted.
You can always consult the banks’ customer relationship executives to assist you with proper loan documentation.
FAQs on Home Loan/Housing Loan
- What is a home loan?
A home loan is a secured loan from a financial institution to buy a residential property. You can avail a home loan to buy a ready-to-move-in house, apartment, or one under construction. Home loans can be availed from both banks and Non-Banking Financial Companies (NBFCs).
- Which is the best bank for a home loan?
Before signing up for a home loan product, it’s best that you compare loans offered by different banks and lending institutions. While comparing, consider the interest rate, Loan-to-Value (LTV) ratio, processing fees, and tenure offered by the bank. Use a home loan EMI calculator and calculate your EMI based on these factors. Compare multiple home loan products by various banks by using this method. Also, certain lenders roll out home loan offers with reduced interest rates from time to time. Keep an eye on that too while looking for a loan. Also, know your requirements first before applying. You can go through the above list to get an idea regarding which bank’s home loan would suit your requirement.
- How long it takes to get a home loan sanctioned?
Usually, it takes 3 to 4 weeks to get a home loan sanctioned. However, you need to keep a few factors in mind for a better understanding. First of all, you need a pre-approval of your home loan from the concerned lender to get your loan sanctioned. However, pre-approval doesn’t always mean that your loan will be disbursed immediately and depends on certain external as well internal factors. For instance, your loan sanction can be delayed if there’s delay in submission of property or income-related documents.
- Which factors determine my home loan eligibility?
Banks/financial institutions consider the following factors such as your age, annual income, occupational stability, resident type, number of co-applicants, credit score, ongoing loans if any, etc.when determining your loan eligibility.
- What is the difference between a fixed-rate and a floating-rate home loan?
The rate of interest associated with fixed-rate loans remains unchanged during the entire tenure of the loan. On the other hand, the interest rates applicable on floating rate loans can be revised from time to time depending on the RBI key policy rates. The equated monthly instalments can increase or decrease depending on the prevailing RBI rates in the case of floating rate type loans.
- Can I prepay my outstanding home loan amount?
Yes, partial or full prepayment is possible. Floating-rate loans usually have no prepayment fee, but fixed-rate loans may incur a penalty of up to 2%.
- Can I avail tax deductions on my home loan?
Yes, you can avail tax benefits on both the interest and principal component paid against your home loan. As per Section 80C of the Income Tax Act, you can avail deductions up to Rs.1.50 lakh on the principal amount repaid annually. Under Section 24 of the IT Act, taxpayers are also eligible for benefits up to Rs.2 lakh on the interest repaid against a home loan annually.
- Who can be a co-applicant?
The co-applicant can be an immediate family member such as your spouse, your parents or even your major children. It is also mandatory for all co-owners of the property to be co-applicants while applying for a loan. However, the co-applicant need not be a co-owner.
- What is Pre-EMI?
Pre-EMI is the interest paid until the entire loan amount is disbursed, after which regular EMIs, comprising principal and interest, apply.
- What is MCLR?
Marginal Cost of funds-based Lending Rate is the benchmark rate set by a lending institution below which they cannot provide loans to their customers.
- Can I switch from a fixed rate to a floating rate during my home loan tenure?
Yes, you can switch from a fixed to floating rate of interest on your home loan during the repayment tenure. However, you will be charged a conversion fee by the lender in such cases.
- When does my loan repayment period begin?
The loan repayment period begins only after the loan provider has disbursed the entire home loan amount. However, you will be required to pay the interest i.e. pre-EMI on the partially disbursed loan on a monthly basis, in most cases.
- Can I take 2 home loans at the same time?
Yes, you can take 2 home loans at the same time provided that your lender approves your eligibility to manage 2 Equated Monthly Instalments (EMIs) at the same time. However, the tax benefits on the second house will be different and you will be required to establish the property as self-occupied or let-out property.
- Can I get 100% financing on a home loan?
No. Banks/financial institution do not grant 100% of the property value as home loan. Home loan lenders establish a margin on their loan i.e. the percentage of the cost that the lending institution will be covering. For example, if the margin on the loan is set at 10%, the bank will cover 90% of property value. In such cases, you will be required to a make a down payment of the balance amount, i.e. 10% in order to cover for the rest of the cost.
- Does having a personal loan affect home loan eligibility?
When determining your home loan eligibility, the lender makes sure that your monthly repayments are not being affected by any other ongoing loans such as personal loan, two-wheeler loan, etc. However, other ongoing loans ultimately tend to affect your eligibility as your overall spending power is reduced. If your other loan commitments exceed 50%-60% of your monthly income, your home loan application may be rejected.
- Is personal loan better than home loan?
For buying a house, a home loan is more suitable due to higher amounts. Personal loans are ideal for non-specific personal needs.
- Can I buy a house with two loans?
No, availing two home loans for the same property is considered fraudulent and prevented by authorities.
- How do joint home loans work?
A joint home loan can be availed by adding a co-applicant such as your spouse, parents, or an immediate family member on your application. Adding a co-applicant will increase your home loan eligibility as the lending institution will also be considering the co-applicant's income and credit score when determining your loan eligibility. All co-owners of the property are required to be the co-applicant for a loan. However, the co-applicants need not necessarily be the co-owner of the concerned property.
Home Loans by Banks
- SBI Home Loan
- Axis Home Loan
- HDFC Home Loan
- Canara Home Loan
- PMB Home Loan
- IDBI Home Loan
- Kotak Home Loan
- IOB Home Loan
- YES Bank Home Loan
Home Loans by NBFC
- LIC Home Loan
- Piramal Home Loan
- Indiabulls Home Loan
- TataCap Home Loan
- PNB Housing Finance Home Loan
- Shriram Housing Finance Home Loan
- Aadhar Housing Finance Home Loan
- Bandhan Bank Home Loan
Home Loan Articles
- Top Housing Finance Companies In India
- Types of Bank Loans In India
- What is Home Loan Process
- What is Home Loan Provisional Certificate
- What is Benami Property
- What is Commercial Property Loan
- Partition Deed of Ancestral Property
- Home Loan Tips
- Reasons For Home Loan Rejection
News about Home Loan
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Union Budget 2024: Housing for Middle Class
Government to launch a scheme to help the middle-class section of India that lives in rented houses, slums, or chawls. This scheme will help the deserving middle-section of India to build their own houses.
1 February 2024
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Home loan offers by Banks during the festive season
Banks and housing finance companies, including SBI, HDFC Bank, and Axis Bank, present special festive home loan offers. Frequently, during festive periods, financial institutions unveil exclusive deals and reductions. Delve into the special offers, discounts, or schemes tailored by lenders for specific groups such as first-time homebuyers, women borrowers, or existing customers, as these promotions may offer extra advantages.
20 November 2023
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Special festive interest rates introduced by Bajaj Finance Home Loan
One of India’s leading financial services companies, Bajaj Finance, has introduced special festive interest rates for the home loan applicants. The interest rates start from 8.45% which will continue till 12 November and the applicants can choose a repayment tenure up to 40 years. A fresh home loan can be applied for up to Rs.15 crore or balance transfer facility can be availed with Baja Finance balance. The loan can be availed by self-employed individuals, salaried individuals, doctors, and other professionals.
10 October 2023
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India Shelter teams up with Bajaj Markets for Home Loans
India Shelter has partnered with Bajaj Markets, a subsidiary of Bajaj Finserv, to offer affordable home loans and loans against property through the Bajaj Markets platform. These loans can be used for various purposes, such as buying a home or addressing financial needs like education, medical emergencies, or travel expenses. The key benefits of applying for these loans on Bajaj Markets include a hassle-free online application process, quick approval, transparency, and access to an easy-to-use EMI calculator. Interested individuals can find information about eligibility criteria and required documents on the Bajaj Markets platform, where they can also explore other loan offers from India Shelter and more.
12 October 2023
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Banks to pay fine of Rs.5,000 per day for delay in release of property papers
The Reserve Bank of India (RBI) has asked the Regulated Entities (REs) to issue the original immovable and movable property documents and remove charges after paying the full and final settlement of the loan. The bank or any Non-Banking Financial Institution is asked to release the original property documents within 30 days of paying the settlement amount of the loan. This new rule will come into effect on 1 December 2023. In case the lender fails to release the property documents within the given deadline, the lender is liable to pay a fine of Rs.5,000 per day to the borrower.
20 September 2023
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Bajaj Housing Finance home loans: 8.45% annual interest rate
Bajaj Housing Finance has launched a special festive home loan promotion, featuring an attractive 8.45% annual interest rate specifically designed for employed individuals. This limited-time offer is valid from 13 September 2023 to 12 November 2023. It allows eligible applicants with a credit score of 750 or higher to avail themselves of monthly instalments as low as Rs.729 per lakh. These loans come with the flexibility of tailoring repayment schedules, swift loan disbursal within 48 hours, an extended tenor of up to 40 years, and the option to tie the interest rate to the repo rate. It's worth noting that other non-banking lenders currently offer home loan interest rates ranging from 8.50% to 14.75% per annum.
15 September 2023
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Bank of Baroda offers 80 basis points discounts on home loans
The public sector lender Bank of Baroda (BoB) is offering disoc*nt of 80 basis points on personal and home loans during the festival months. The rate of interest will be starting from 8.40% and the bank has launched their festival campaign, titled ‘BoB Ke Sang Tyohaar Ki Umang’ which will be valid till 31 December 2023.
14 September 2023
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IMGC CEO Declares to Launch Credit Score for Housing Loans
IMGC CEO Mahesh Mishra declared that Indian Mortgage Guarantee Company (IMGC) aims to increase its portfolio to Rs.1 trillion over the next 5 years. He also mentioned that the company is aiming to launch a credit score for housing loans for its customers in near future.
13 September 2023
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Information of new home loan scheme is likely to be introduced by September
Prime Minister of India has announced a new home loan scheme for middle class families who are staying in rental accommodation in cities. The aim of the scheme to offer relaxation in interest on home loans for city dwellings is going to be announced in the month of September.
06 September 2023
